According to flash data for EUR futures markets from CME Group, investors added around 25.3K contracts to their open interest positions on Tuesday, the largest single day build since June 12 and the fourth advance in a row. In the same line, volume went up by nearly 257.4K contracts, highest since mid-June.
EUR/USD still looks rangebound ahead of ECB
EUR/USD’s price action on Tuesday was inconclusive despite the significant build in both open interest and volume. That said, the likeliness of a potential squeeze higher remains in the pipeline while accumulation gathers pace ahead of the critical ECB event tomorrow.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.